One of Australia 's leading superannuation funds is celebrating the achievement of a major membership milestone.

Tasplan now has 100,000 members and according to General Manager Neil Cassidy, there is every reason to expect that the Fund's success will continue.

“Other milestones reached by the Fund include 10,000 registered employers and over $720 million in funds under management” Cassidy said.

He believes the Fund will continue its dramatic growth despite new challenges confronting the superannuation industry.

“Tasplan has achieved a strong position in the market since it was established jointly by Tasmania 's peak business and trade union organisations in 1987.” Cassidy said. “ It continues to be the only fund endorsed by both peak bodies – something our Board views as a ringing endorsement”

Cassidy believes that Tasplan has won the loyalty of its members as a result of its low fees, personal service and solid investment performance.

“ It is with a great deal of pleasure that I tell people about the average 9.85% compound return for the fund's Balanced option ( selected by 95,000 Tasplan members ) over the 18 years the fund has been in existence. This is an excellent result by any standard.”

“As an industry fund, we don't pay commissions to agents and financial planners and there are no dividends paid to external shareholders. Every dollar of profit made by the Fund belongs to members” Cassidy said.

Cassidy believes that the 2003 merger with two NSW funds , has given Tasplan the critical mass to compete with the largest funds in the country.

?Tasplan is now big enough to achieve significant economies of scale for its members located throughout Australia ? Cassidy said. ?We are looking to the achievement of other major milestones over the coming years?.